Seoul – Korean chemical conglomerate Hyosung has recently started commercial operation at its first polyurethane elastane plant in India.
The new plant has 18kT/year elastane capacity. It is located in the AURIC Industrial Complex near Aurangabad, Maharashtra, and the site covers an area of 400,000m2.
With the new plant, Hyosung aims to increase its market share in India from the current 60% to 70%. The company estimates that India's market is 1.3bn people. It promised an 'aggressive marketing strategy [which]… will promote symbiotic growth with the local industry', according to Hyosung Chairman Cho Hyun-joon.
The company is also considering the Americas as the next site for another elastane plant.